Trading unit: 50 tons/lot
Minimum price change: 1 yuan/ton.
Quotation unit: Yuan (RMB)/ton
Minimum trading margin: 5% of the contract value.
Maximum fluctuation limit of daily price: about 5% of the settlement price of the previous trading day.
Contract delivery month:1~ 65438+February (except Spring Festival month)
Trading time: 9: 00 am ~165438+0: 30 pm ~15: 00 pm.
Delivery grade: 180CST fuel oil (see annex for specific quality regulations) or other fuel oil with better quality than this standard.
Last trading day: the last trading day of January before the delivery month of the contract.
Delivery date: five consecutive working days after the last trading day.
Delivery place: the delivery place designated by the exchange.
Transaction fee: 0.2 ‰ of the transaction amount. Notice on lowering the transaction fee standard of various varieties [20 12] 105 issued in the last issue.
Delivery method: physical delivery
Transaction code: Fufu is the last product in petroleum processing, and the value of fuel oil is generally low. When oil prices were low, fuel oil used to be the most consumed oil in developed countries. After two oil crises (1973 ~ 1974, 1979 ~ 1980), western developed countries suffered huge losses and adjusted their energy structure one after another. Because of the substitutability of fuel, fuel has become the main target of energy structure adjustment. I. Supply and demand of the world fuel oil market In the past two years, the world fuel oil supply has shown a downward trend. The total supply in 2006 was 579.48 million tons, down1.7% year-on-year; Affected by energy substitution and other reasons, the demand was 579,665,438+million tons, down 0.2% year-on-year.
Among the fuel oil supply, only the Middle East increased in 2006, reaching 90 1, 1 1,000 tons, up 4.6% year-on-year, while Asia, North America, the Middle East and Western Europe all declined to varying degrees. Among them, the supply of fuel oil in Europe and Asia ranks the top two in the world, accounting for 58% of the world's total supply.
In 2006; The demand for fuel oil in Central and South America increased by 6%, reaching 3610.6 million tons. The demand for fuel oil in North America and Europe decreased by 65,438+0.8% and 65,438+0.4% respectively. Affected by the offshore oil market and the demand for secondary processing, the Asia-Pacific region grew by 1. 1% year-on-year, with a demand of 206.79 million tons.
In 2006, Asia was still the region with the largest fuel oil supply gap, with a gap of 62.84 million tons; North America also has a supply gap of 6.5438+0.78 million tons. In 2006, the European Union banned the use of high-sulfur fuel oil with sulfur content above 654.38+0.5%, and Central and Eastern Europe became the main export areas of fuel oil arbitrage ships.